FY22 Results Presentation

Continuing Operations1

1. Continuing operations excludes Specialist due to the planned divestment of this division
2. Normalised EBITDA, Normalised EBIT and Normalised NPAT exclude non-controlling interest and non-trading adjustments of $3.4m pre-tax related to restructuring and resetting the business as part of the strategic plan (FY21: $1.5m)
3. Including discontinued operations, attributable to owners of the company

COMPLETED:

• Comprehensive business review
• Restructured the business divisions to better reflect asset utilisation and customers
• Strengthened the leadership team
• Commenced digital journey
• Refreshed the Board
• Diversified the share register
• Considerably strengthened the financial structure through successful $40m capital raise

IN PROGRESS:

• Fix Freight:

• Concentrate on margin

• Freight system upgrade

• Transition to asset light model

• Execute Move Oceans strategy, commencing with trans-Tasman route

• Grow the Contract Logistics offering
• Focus on industry verticals
• Reposition property
• Improve capability and retention
• Sale process for Specialist business

OPERATING ENVIRONMENT

• Restricted operating environment due to COVID lockdowns
• Increase in global and local supply chain disruption
• Increasing inflationary pressure
• Driver shortages becoming more acute
• Interest rates continue to rise

IMPACT ON MOVE

• Significant decrease in fuel deliveries due to reduced client demand and impact of COVID on normal trading levels
• Supply chain disruptions and cost pressures delaying planned improvements in Freight reset programme
• Delay in asset replacement programme (trucks) resulting in increased maintenance costs on existing assets
• Increased operating costs
• Strong international volumes and record ocean freight pricing